Primecap Management Co. CA Acquires 4,300 Shares of Griffon Co. (NYSE:GFF)

Primecap Management Co. CA raised its position in Griffon Co. (NYSE:GFF - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 238,400 shares of the conglomerate's stock after buying an additional 4,300 shares during the period. Primecap Management Co. CA owned 0.50% of Griffon worth $16,991,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Grove Bank & Trust purchased a new position in Griffon in the fourth quarter worth $33,000. R Squared Ltd bought a new position in Griffon during the fourth quarter valued at about $37,000. Smartleaf Asset Management LLC increased its holdings in Griffon by 343.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,091 shares of the conglomerate's stock worth $78,000 after buying an additional 845 shares during the last quarter. Quarry LP raised its position in Griffon by 86.9% in the third quarter. Quarry LP now owns 1,452 shares of the conglomerate's stock worth $102,000 after acquiring an additional 675 shares during the period. Finally, KBC Group NV increased its stake in shares of Griffon by 43.1% during the 4th quarter. KBC Group NV now owns 1,729 shares of the conglomerate's stock worth $123,000 after purchasing an additional 521 shares during the last quarter. Institutional investors own 73.22% of the company's stock.

Griffon Trading Up 5.3 %

GFF stock traded up $3.79 during trading on Monday, hitting $74.59. 379,647 shares of the company traded hands, compared to its average volume of 401,161. The firm has a market capitalization of $3.58 billion, a PE ratio of 15.22 and a beta of 1.40. Griffon Co. has a 1 year low of $55.01 and a 1 year high of $86.73. The company has a debt-to-equity ratio of 6.44, a quick ratio of 1.34 and a current ratio of 2.51. The company has a 50-day moving average of $74.27 and a 200-day moving average of $72.46.

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Griffon (NYSE:GFF - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The conglomerate reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.11. Griffon had a return on equity of 120.61% and a net margin of 9.13%. Analysts predict that Griffon Co. will post 5.55 earnings per share for the current fiscal year.

Griffon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.72 annualized dividend and a yield of 0.97%. Griffon's payout ratio is 14.69%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Stephens increased their price target on Griffon from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Loop Capital upgraded Griffon to a "strong-buy" rating in a research report on Friday, February 14th. Raymond James reissued a "strong-buy" rating and issued a $95.00 price target (up from $92.00) on shares of Griffon in a report on Thursday, February 6th. Finally, StockNews.com lowered shares of Griffon from a "strong-buy" rating to a "buy" rating in a research report on Thursday. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $98.75.

Insiders Place Their Bets

In other news, Director Cheryl L. Turnbull sold 3,000 shares of the business's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $80.80, for a total transaction of $242,400.00. Following the sale, the director now owns 30,730 shares in the company, valued at approximately $2,482,984. The trade was a 8.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 10.20% of the company's stock.

Griffon Profile

Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. The company operates through two segments: Home and Building Products, and Consumer and Professional Products. The Home and Building Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grilles, and room dividers for the use in commercial construction and repair, and home remodeling applications.